Boston, MA JLL has closed the sale of Copley Square Hotel, a 143-room independent boutique hotel in the city’s Back Bay neighborhood. The sale price was not disclosed.
JLL marketed the property on behalf of institutional clients managed by Barings, one of the world’s largest real estate investment managers. Hawkins Way Capital purchased the hotel unencumbered of existing brand or management.
Built in 1891, the Copley Square Hotel is an historic boutique hotel that provides guests with modern amenities, including large room layouts with 250-degree city views, 1,500 s/f of meeting and event space, a 24-hour fitness center, nightly wine-down hour and 11,800 s/f of retail that includes 2,800 s/f of vacant ground-floor retail and a lower-level nightclub. Situated at 47 Huntington Ave., the hotel is located in one of the city’s most desirable neighborhoods. The live-work-play area houses shopping, restaurants and popular demand drivers, including Newbury St., nationally acclaimed colleges and universities, Fenway Park, the Prudential Center and strong corporate demand generated by numerous Fortune 500 companies.
The JLL Capital Markets team was led by managing director Denny Meikleham, senior director Alan Suzuki and director Matt Enright.
“Buyer interest in the Copley Square Hotel was extremely competitive, driven by the strength of the Boston Lodging market and the numerous value-add opportunities buyer’s saw in the property,” Meikleham said.